Preheat oven to 400F, with rack on upper middle position. Line a large baking sheet with foil and grease the foil. Dry chicken wings with paper towels.
In a bowl, combine oil, butter, garlic powder, salt, and pepper. Mix well. Pour mixture over dried wings, tossing to coat thoroughly.
Place wings in single layer on foil lined baking sheet. Bake 45-50 minutes or until browned and crisp.
While chicken is baking, make the sauce. In a small pot, melt butter. Add rest of sauce ingredients, constantly stirring, until mixture starts to bubble. Immediately remove from heat and set aside.
Transfer baked wings to a large bowl. Pour as much sauce as desired over wings, tossing to coat well.